From the FT: The International Monetary Fund has called on the Bank of England to cut interest rates and resume printing money to boost demand in the economy. It has also asked the UK government to prepare a Plan B for deficit reduction if these measures do not work.

In a tough assessment of the UK’s economic prospects, the fund said the economy had not responded as it had hoped and risks of continued stagnation were high.

It said “further monetary easing is required” and should happen with more quantitative easing and a cut in the 0.5 per cent interest rate.

The New York Times reports today on the effect the Olympic Park will have on London:

The London Games, although lacking in geopolitical oomph, do have a big-ticket project: The Olympic Park in Stratford, a massive, multibillion exercise in urban renewal that will, at least for 17 days in July and August, shift London’s traditionally west-leaning axis to the east as tourists and Londoners alike disembark from tube and train among other transport options…

The cost of renting for flats has reached an all-time high, according to an index by Findaproperty.com. The property listings website said letting costs had risen overall in the first quarter of 2012 – the first rise since last summer. More here